Gold Price Targets Are Rising — Where Do the Big Banks See It Going?

Gold has pushed back above $4,600, and Wall Street's forecasts remain firmly in focus.

The latest targets from major institutions show a wide range.

J.P. Morgan sees gold averaging around $6,000/oz in Q4 2026, with prices moving toward $6,300 by the end of 2027.

UBS has set a 12-month target of $5,400, while Goldman Sachs currently targets around $4,900 by year-end.

At the more cautious end, Bank of America has cut its 2026 average forecast to $4,360, although it still sees $5,000 as achievable once the Fed's tightening cycle ends.

That leaves a broad institutional range of roughly $4,500 to $6,000.

The reasons behind the bullish forecasts are fairly consistent: a softer US Dollar, lower real yields, continued central-bank demand and growing investor interest in gold as a hedge against fiscal and geopolitical risks.

Gold's recent move above $4,600 puts the market closer to the upper end of some bank forecasts — but still well below the most bullish targets.

For traders, the key now is whether the macro backdrop can keep supporting the rally as gold moves into increasingly higher price territory.